New Jersey Crypto Tax Calculator
We built this free crypto tax calculator for residents of New Jersey who want to check calculations quickly. Our calculator is for informational purposes only. Please consult a CPA or tax professional. Use cryptocurrency tax accounting software if you have lots of trades.
New Jersey taxes capital gains as regular income, with rates ranging from 1.4% to 10.75%. To calculate Federal taxes, please use our USA tax calculator.
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Calculate for freeNew Jersey Tax Brackets (2024)
| Taxable Income | Tax Rate |
|---|---|
| $0 to $20,000 | 1.40% |
| $20,000 to $35,000 | 1.75% |
| $35,000 to $40,000 | 3.50% |
| $40,000 to $75,000 | 5.525% |
| $75,000 to $500,000 | 6.36% |
| $500,000 to $1,000,000 | 8.97% |
| Over $1,000,000 | 10.75% |
Cryptocurrency Taxation in New Jersey
Key Points
- Progressive Taxation: New Jersey taxes crypto gains at rates from 1.4% to 10.75%.
- Multiple Brackets: Tax rates increase across seven income brackets.
- No Distinction: New Jersey makes no distinction between short-term and long-term gains.
- Mining Income: Crypto mining is treated as self-employment income and taxed at regular income rates.
Common Tax Situations
Trading & Investment
All crypto trades, including crypto-to-crypto transactions, are taxable events. Gains are taxed based on your total income bracket.
Tax Planning Tips
With New Jersey's multiple tax brackets and significant rate differences, carefully timing your crypto sales across tax years can help manage your effective tax rate. Pay special attention to the higher brackets, particularly around the $500,000 and $1,000,000 thresholds.